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- W2109892348 abstract "This paper compares different methods for estimating forward-looking output and inflation Euler equations and shows that weak identification can be an issue in conventional GMM estimation. The authors propose a GMM procedure that imposes the dynamic constraints implied by the forward-looking relation on the set. This optimal instruments procedure is more reliable than conventional GMM, and it provides a robust alternative to estimating dynamic macroeconomic relations. Empirical applications of this procedure suggest only a limited role for expectational terms." @default.
- W2109892348 created "2016-06-24" @default.
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- W2109892348 date "2004-01-01" @default.
- W2109892348 modified "2023-09-24" @default.
- W2109892348 title "Estimating Forward Looking Euler Equations with Gmm Estimators: An Optimal Instuments Approach" @default.
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- W2109892348 doi "https://doi.org/10.2139/ssrn.593470" @default.
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